Reversing the old colonial trade movement somewhat, the news of this acquisition comes as proof that cheap money can turn old equations on its head. South African investment firm Brait has just completed a successful $1.2-billion bid for British retailer New Look. The latter operates an 800-strong chain of stores across 21 countries selling apparel and footwear for both men and women. Brait, on the other hand, counts as its majority stakeholder Christoffel Wiese, a prominent investment banker and well-known South African billionaire. The SA-based firm is reported to be preparing to give the retailer a makeover, with an IPO supposedly on the cards.
Brand new look
South African investment firm Brait has just completed a successful $1.2-billion bid for British retailer New Look
Prathamesh Mulye - August 16, 2018
How far did Baba Ramdev stretch to bag Ruchi Soya?
V Keshavdev - June 05, 2020
Virtual door to good fortune
Shailaja Mohapatra - June 29, 2020
Why Ashish Kacholia, Mukul Agrawal and Kedaara Capital are hot on Religare Enterprises
Anishaa Kumar - July 16, 2020
Tulsi Tanti built his empire on 'soojh-boojh', loans and one other secret ingredient
Krishna Gopalan - July 17, 2020